Hi there. There is problems with drawterm on Mountain Lion. First of all Carbon is now deprecated, so OS X native app just doesn't build at all.
But using workarounds from issue #3 I can build X11-version. I have an 9front CPU server in local network at address 192.168.1.99. Using precompiled binaries from http://swtch.com/drawterm/ I can connect to it using command line:
drawterm -c 192.168.1.99 -u gelnda
But when I trying to do same with just compiled X11 version I got error:
cpu: can't dial: 192.168.1.99: Invalid argument